CPFL will pay $599 million (€415.8 million) and assume debt totalling $346.5 million (€240.5 million). There is also the option to purchase a second unit, Jantus II.
The deal adds 210 MW of wind farms in operation and 732 MW portfolio of projects in the generating facilities of the Group, which also may be added 135 MW project Quintanilha Machado, positioning CPFL as one of the leading companies in renewable energy in Brazil.
The Jantus will be reorganized, and will own indirectly all projects and operating assets held by its subsidiaries, except Quintanilha Machado, who will become a subsidiary of Jantus II, and whose purchase is subject to certain, unspecified conditions being fulfilled.
Jantus owns two local power companies, SIFF Enegies do Brasil and SIFF Desenvolvimento de Projetos de Energia Eolica that have a wind energy portfolio totalling 210 MW.
“The acquisition of SIIF consolidates our strategy for growth in generation, especially through renewable energy,” said Wilson Ferreira, CEO of CPFL Energia.
Adriana Waltrick, executive vice president of business development of CPFL Energia, added, “We are very excited about this, given the high quality of the assets of SIIF and its growth potential through the development of new wind farms.”
CPFL said its business strategy has focused on working towards a low carbon economy, and has previously invested in eight wind farms.
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